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Verizon (VZ) SVP Stillwell granted phantom stock units in deferred plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Verizon Communications senior vice president and controller Mary-Lee Stillwell reported a compensation-related award of 40.4020 units of phantom stock credited on March 26, 2026 under a deferred compensation plan. Each phantom share is economically tied to Verizon common stock but is settled in cash, not stock.

After this award, Stillwell’s deferred compensation account holds 16,133.6770 phantom stock units, including amounts acquired through dividend reinvestment. The filing also notes an underlying equivalent of 12.0000 shares of common stock, but there was no open-market buying or selling of Verizon shares.

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Insider Stillwell Mary-Lee
Role SVP and Controller
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 40.402 $14.47 $584.62
Holdings After Transaction: Phantom Stock (unitized) — 16,133.677 shares (Indirect, By Deferred Compensation Plan)
Footnotes (1)
  1. Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash. The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan. Includes phantom stock acquired through dividend reinvestment.
Phantom stock units granted 40.4020 units Grant under deferred compensation plan on March 26, 2026
Phantom stock price basis $14.4700 per unit Economic reference price for phantom stock units
Total phantom stock after grant 16,133.6770 units Deferred compensation plan balance after transaction
Underlying common stock equivalent 12.0000 shares Underlying Verizon common stock referenced for the derivative
Conversion or exercise price $0.0000 Phantom stock units require no exercise price
Phantom Stock (unitized) financial
"security_title: "Phantom Stock (unitized)""
deferred compensation plan financial
"in accordance with the deferred compensation plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
dividend reinvestment financial
"Includes phantom stock acquired through dividend reinvestment."
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
indirect ownership financial
"ownership_type: "indirect" and nature_of_ownership"
Grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Stillwell Mary-Lee
(Last)(First)(Middle)
VERIZON COMMUNICATIONS INC.
1095 AVENUE OF THE AMERICAS
(Street)
NEW YORK NEW YORK 10036
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
VERIZON COMMUNICATIONS INC [ VZ ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP and Controller
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock (unitized)(1)03/26/2026A40.402 (1) (1)Common Stock12$14.4716,133.677(2)IBy Deferred Compensation Plan
Explanation of Responses:
1. Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash. The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
2. Includes phantom stock acquired through dividend reinvestment.
Remarks:
Exhibit 24 - Power of Attorney.
Evgeniya Berezkina, Attorney-in-fact for Mary-Lee Stillwell03/30/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Verizon (VZ) executive Mary-Lee Stillwell report in this Form 4?

Mary-Lee Stillwell reported receiving 40.4020 phantom stock units under a deferred compensation plan. These units mirror Verizon common stock in value but are settled in cash and increase her total phantom stock holdings to 16,133.6770 units.

Is the Verizon (VZ) Form 4 a stock purchase or sale by the executive?

The Form 4 reflects a grant of phantom stock units, not an open-market stock purchase or sale. The 40.4020 units are part of compensation and are economically equivalent to Verizon shares but will be paid in cash under the plan’s terms.

How many phantom stock units does the Verizon (VZ) executive hold after this grant?

After the reported grant, Mary-Lee Stillwell’s deferred compensation account holds 16,133.6770 phantom stock units. This total includes units accumulated through the new award and prior dividend reinvestment, all tied to Verizon’s common stock value but payable in cash.

What does phantom stock mean in the Verizon (VZ) compensation plan?

Phantom stock in Verizon’s plan represents units whose value tracks a portion of one share of Verizon common stock. According to the filing, these units are settled in cash and become payable upon events the executive selected under the deferred compensation plan.

Is the phantom stock in the Verizon (VZ) Form 4 held directly by the executive?

The phantom stock units are held indirectly through a deferred compensation plan. The Form 4 identifies the ownership as indirect and specifies that the units are credited to a plan account rather than reflecting direct ownership of Verizon common shares.

Does the Verizon (VZ) Form 4 mention dividend reinvestment in the phantom stock account?

Yes. A footnote explains that the total phantom stock balance includes units acquired through dividend reinvestment. This means dividends notionally credited on Verizon stock are automatically reinvested into additional phantom stock units in the deferred compensation plan.